Advocating for Active and RetiredState Employees and Educators

The Georgia State Retirees Association (GSRA) is an organization focused on keeping retirees and prospective retirees from all parts of Georgia Government informed about any impacts to promised retiree and health insurance benefits.

ERS Executive Director Jim Potvin presented a series of “funding considerations” at the ERS board’s Feb. 15 meeting. These included analyzing the impacts of downturns in ERS investment values, of various amortization periods reaching 100% funding of the retirement pension fund, of alternative assumed investment rates of return, and of alternative COLA and bonus payments. At Mr. Potvin’s suggestion, the board decided to hold a special meeting this coming March 15 to consider changes to current funding policies. This meeting will follow the next regularly scheduled Investment Committee meeting. The special meeting is needed to decide on what, if any, changes should be made to the amortization period and to the assumed investment rate in order for the ERS’s actuary to be able to project before the regular April meeting the impacts of various COLAs or other post-retirement adjustments the board may consider at that meeting. To view Mr. Potvin’s presentation, click on this link: Funding Considerations.

STRATEGY FOR ADVOCATING FOR COLAs

Your GSRA leadership team has determined that we should take every action we can to receive a COLA for this coming fiscal year 2019 AND for the year after, FY 2020. Any chance for success depends on the participation of YOU, EVERY GSRA member, and EVERY other retired state employee. Our strategy will be three-fold and will be revealed shortly in our newsletter, on our web page, and on our Facebook page.

For an FY 2019 COLA, we will have as many members as possible attend this coming Thursday’s ERS board meeting (Feb. 15 at 10:30, Two Northside 75), and again at the April meeting.

Also for an FY 2019 COLA, we will have several messages - and letter-writing campaigns along with calls and personal visits with legislators during the session. We will start with all members of the House urging them to request the House Appropriations Committee to include funds for a COLA of at least 1% in the 2019 budget. Then we'll write the Appropriations Committee Members and ask them to include funds for a COLA of at least 1%. Simultaneously, we'll contact members of the House Retirement Committee and request their support for at least a 1% cola. We will repeat these campaigns with the Senate and possibly with Leadership and the Governor. Click links below to view the Action Alerts: